Strongbridge Biopharma plc (SBBP) Expected to Post Quarterly Sales of $5.03 Million

Analysts expect Strongbridge Biopharma plc (NASDAQ:SBBP) to announce $5.03 million in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for Strongbridge Biopharma’s earnings. The highest sales estimate is $5.83 million and the lowest is $3.10 million. Strongbridge Biopharma posted sales of $2.98 million during the same quarter last year, which suggests a positive year over year growth rate of 68.8%. The company is scheduled to issue its next earnings results on Monday, March 11th.

According to Zacks, analysts expect that Strongbridge Biopharma will report full-year sales of $18.53 million for the current year, with estimates ranging from $16.61 million to $19.30 million. For the next year, analysts expect that the business will post sales of $28.69 million, with estimates ranging from $24.88 million to $30.03 million. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for Strongbridge Biopharma.

Strongbridge Biopharma (NASDAQ:SBBP) last issued its quarterly earnings data on Wednesday, October 31st. The biotechnology company reported ($0.44) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.38) by ($0.06). The business had revenue of $5.35 million for the quarter, compared to analysts’ expectations of $5.48 million.

Several analysts have weighed in on SBBP shares. Cantor Fitzgerald set a $17.00 price objective on shares of Strongbridge Biopharma and gave the stock a “buy” rating in a research note on Tuesday, October 2nd. ValuEngine raised shares of Strongbridge Biopharma from a “hold” rating to a “buy” rating in a research note on Thursday, November 1st. Zacks Investment Research cut shares of Strongbridge Biopharma from a “hold” rating to a “sell” rating in a research note on Wednesday, November 7th. Finally, Laidlaw assumed coverage on shares of Strongbridge Biopharma in a research note on Tuesday, December 18th. They set a “buy” rating and a $11.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $14.13.

In related news, major shareholder Associates L.L.C. Cdk purchased 49,397 shares of the firm’s stock in a transaction dated Thursday, December 27th. The shares were acquired at an average cost of $3.99 per share, with a total value of $197,094.03. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.20% of the stock is owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in SBBP. Millennium Management LLC boosted its stake in Strongbridge Biopharma by 380.4% in the second quarter. Millennium Management LLC now owns 662,419 shares of the biotechnology company’s stock valued at $3,975,000 after acquiring an additional 524,539 shares during the last quarter. Sphera Funds Management LTD. boosted its stake in Strongbridge Biopharma by 74.9% in the third quarter. Sphera Funds Management LTD. now owns 1,179,010 shares of the biotechnology company’s stock valued at $5,718,000 after acquiring an additional 505,014 shares during the last quarter. Prosight Management LP bought a new position in Strongbridge Biopharma in the third quarter valued at approximately $2,056,000. Marshall Wace LLP bought a new position in Strongbridge Biopharma in the third quarter valued at approximately $1,290,000. Finally, Opaleye Management Inc. boosted its stake in Strongbridge Biopharma by 15.1% in the second quarter. Opaleye Management Inc. now owns 1,830,000 shares of the biotechnology company’s stock valued at $10,980,000 after acquiring an additional 240,000 shares during the last quarter. 65.68% of the stock is currently owned by hedge funds and other institutional investors.

Strongbridge Biopharma stock traded up $0.27 during trading hours on Friday, hitting $4.99. 123,300 shares of the stock were exchanged, compared to its average volume of 117,888. The company has a current ratio of 3.38, a quick ratio of 3.11 and a debt-to-equity ratio of 8.76. The stock has a market capitalization of $222.81 million, a price-to-earnings ratio of -3.44 and a beta of 0.09. Strongbridge Biopharma has a 12 month low of $3.82 and a 12 month high of $9.25.

About Strongbridge Biopharma

Strongbridge Biopharma plc, a commercial-stage biopharmaceutical company, focuses on the development and commercialization of therapies for rare diseases with unmet needs. The company's commercial products include Keveyis, an oral carbonic anhydrase inhibitor for treating hyperkalemic, hypokalemic, and related variants of primary periodic paralysis in the United States; and Macrilen, an oral growth hormone secretagogue receptor agonist for use in the diagnosis of patients with adult growth hormone deficiency in the United States and Canada.

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